Ardevora Asset Management LLP Has $16.79 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Ardevora Asset Management LLP cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 53.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,090 shares of the financial services provider’s stock after selling 392,897 shares during the period. Wells Fargo & Company accounts for 1.5% of Ardevora Asset Management LLP’s portfolio, making the stock its 13th largest holding. Ardevora Asset Management LLP’s holdings in Wells Fargo & Company were worth $16,788,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WFC. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares during the last quarter. Studio Investment Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the 1st quarter valued at about $28,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup reiterated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Raymond James upped their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Jefferies Financial Group upped their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, HSBC increased their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $1.61 on Friday, reaching $60.35. 34,334,317 shares of the stock were exchanged, compared to its average volume of 15,430,011. The firm’s 50 day moving average is $55.88 and its 200-day moving average is $48.89. Wells Fargo & Company has a one year low of $36.40 and a one year high of $60.85. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market cap of $213.66 billion, a PE ratio of 12.60, a P/E/G ratio of 1.17 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.